Houston, We have a problem.

I'll apologize for using the words inherited from a debacle in the space industry.

It just kind of seemed appropriate here.

This is from one source I ran across, and I'll post yet another from a different, yet somewhat associated source.

I'm NOT all out for gloom and doom.
I do NOT know how much truth is here. It's full of disclaimers.
I do think people should know what is going on around them, and if they were to investigate the words contained herein, perhaps they might come closer to the truth of the matter.
I'm not much on high finance.
If you figure out what's really going on, perhaps you would tell me how I might avoid the problems that are sure to ensue?

"Imploded" lenders: The "imploded" status is somewhat subjective and does not necessarily mean operations are ceased permanently: it can mean bankruptcy filing, temporary but open-ended halting of major operations, or a "firesale" acquisition. The Companies include all types (prime, subprime, or a mix of both; retail or wholesale; subsidiaries and entire companies). Note: Companies listed here may still be operating in some capacity; check with them before making assumptions.

Ailing lenders haven't shut down, but they're significantly scaling back or are (or recently have been) in manifest financial, legal, or operational distress. Unfortunately, most of the industry now falls under this description, so we are forced to reserve this list for the more glaring cases or those which we happen to have more specific info about.

Note: Lending operations that were previously deemed "imploded" by us but which have returned in some form are shown in darker italics. They remain on the list for historical completeness.

Note 2: This site changes rapidly. You should always check other sources regarding information found here, and check with the companies themselves if you plan on doing business with them. And as always, please let us know if you have corrections, clarifications, or additions.

Re: Houston, We have a problem.

This bubble collapse rmptr, is what has led to our current Oil crisis. All the speculators who once were making huge sums of money in a very over inflated housing as well as the debt market, have now moved on to oil as a way to continue their windfall profits. I was waiting for Someone in the Government to step up to the plate and call a halt to such greed motivated factors which are pulling country down into the depths of an economic collapse. maybe place a large Tax on windfall profits that would drive the speculators on to other areas. But I guess besides the fact that many in Congress are also making huge profits in the speculation markets, I think they can't agree on where these same investors would then focus their greedy attention.

Re: Houston, We have a problem.

The next big economic shockwave will be when the insurance companies have to start paying out claims for the next natural disaster to hit. They'll start screaming that they'll lose their investments and threaten to go into bankruptcy if they aren't bailed out by the gov't. (The real reason is because they'll be trying to cover their bad investments. In real estate, for one...)